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FedEx 4Q Profit Rises 7%


FedEx Corp. posted a 7 percent increase in fourth-quarter profit Wednesday on higher revenue but said a sluggish U.S. economy dampened business. The shipping giant forecast earnings growth in fiscal year 2008 below the company’s long-term 10- to 15-percent target, in part because of planned investments necessary for the company’s long-term health. But FedEx said its own economists predict a bit of an economic upturn later this year. (AP)



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